ICRU launches Specialized Investment Vehicle and Punjab’s Investors Handbook 2018
Lahore, 16th May; Investment Climate Reform Unit (ICRU), Planning &Development Department, Punjab, organized a seminar titled the ‘Investment Climate Enablement Seminar: Setting the Investment Enabling Reform Agenda for Punjab’ in Lahore. The Seminar was attended by, Sheikh Alauddin, Provincial Minister for Industries, Punjab; Mohammad Jehanzeb Khan, Chairman P&D Board, Punjab; Patchamuthu Illagovan, Country Director, World Bank Group; Mr. Farid Ahmed Khan CEO HBL AML and eminent guests both from the Public and Private sector to reaffirm the Government of Punjab’s commitment to establishing an enabling business environment in the Province.
This was the first seminar that was organized by the Investment Climate Reform Unit, since its inception in 2017, and was focused on highlighting the reforms agenda meant for Investor friendly environment in the Punjab. During the seminar the Pioneer Specialized Investment Vehicle (SIV) was launched along with the launch of Investor’s Handbook 2018. The SIV, was structured by Mr. Farid Khan, CEO HBL Asset Management LTD, and he provided a operational, structural and governance details to a large gathering in the seminar.
The SIV was highly welcomed by the participants and members. The SIV will provide a mix of funded & non-funded products for a varying size of businesses, as well as research grants for educational institutions & think tanks. These will include both Secured & Unsecured loans, as well as Credit Guarantees.
Whereas, the Investor’s Handbook 2018 has been developed by the ICRU to assist potential investors looking to establish themselves in the Punjab and existing investors to diversify or expand. It will be placed at airports, business chambers and other such places and will also be translated into the Mandarin & Turkish languages for the convenience of overseas investors. It covers key industrial sectors, important contacts & registration processes to establish operations in the Punjab. While setting the investment enabling reform agenda for the province, Mohammad Jehanzeb Khan Chairman P&D Board congratulated Ms. Maleeha Bangash Managing Director ICRU and her team on successfully launching the SIV and Investor’s Handbook. Speaking on the occasion he said, “Competitiveness of economy is a big issue and a lot of work still needs to be done to elevate the country’s standing in the Global competiveness Index. The development of regional development clusters is imperative to stimulating competitiveness for local businesses that stand to benefit a great deal from value addition, such as in the field of Textiles, Leather and Sports Goods, and it gives me immense pleasure to see the ICRU moving in the right direction in this regard.”
The seminar concluded with two panel discussions where the panelists presented their informed perspectives with regards to the 100 Day Reform Action Plan and the outcomes of the Public Private Dialogues sessions, held by ICRU, pertaining to Intellectual Property Rights, Access to finance for SMEs and taxation.
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Together towards an enabled Business environment ICRU and SCCI holds seminar on the role of ICRU in Punjab
Sialkot, 24th April: A delegation led by Managing Director ICRU, Ms.Maleeha Bangash in collaboration with the Sialkot Chamber of Commerce and Industry (SCCI) arranged a seminar titled “Towards an enabled business environment; highlighting the role of ICRU in Punjab,” aimed at providing information regarding the efforts of the Government of the Punjab in creating a business enabling environment in the province.The seminar was attended by Mr. Zahid Latif Malik, President SCCI; Mr. Abid A. Khawaja, Vice President SCCI, along with members from the chamber’s executive committee.
Speaking on the occasion Ms.Maleeha Bangash said that private sector engagement is the key contributing factor towards the creation of an enabling business environment in the Punjab. Lauding the SME sector of Sialkot she said that the SME sector has great potential for expanding production capacity and opportunities within the province and ICRU is committed to addressing underlying issues that affect private sector access to finance through continued policy dialogue on financial sector reforms. She further stated that ICRU believes that Access to Finance for the SMEs is the way forward for empowering the SME sector and for ensuring sustainable economic growth in the province.
Mr. Zahid Latif Malik on behalf of the business community of Sialkot welcomed ICRU’s initiative of reaching out to the private sector and termed it a good way forward to remove any hindrances between public private partnerships.
It is pertinent to mention that private sector investment and activity will ultimately generate sustained economic growth as well as increase employment opportunities and lead to poverty reduction. The provincial government nevertheless has an important role to play in the creation of enabling conditions for private investment and production, which in the case of Punjab falls under the mandate of ICRU.
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Private Sector and ICRU put their heads together to solve Intellectual Property Rights conundrum
The Investment Climate Reform Unit (ICRU), Planning and Development, Punjab, held the first session of its Working Group, to address Intellectual Property Rights(IPR) infringement and enforcement issues in the Province. The Working Group is one of the several critical ones formulated under the direction of the Chairman P&D Board, Mr. Mohammad Jehanzeb Khan upon request from the Private Sector in the recently held Public Private Dialogue(PPD) Council session convened by ICRU. The PPD Council session was Chaired by Mr. Mohammed Jehanzeb Khan, Chairman P&D Board and was convened by Ms. Maleeha Bangash, Managing Director ICRU, in her capacity as Secretary to the PPD Council. During the PPD Council session the Chairman P&D Board stated that PPD is a core function of ICRU and labelled ICRU which is an investment facilitation agency in the Province as a “partner and friend of the private sector from the government”.
The IPR Working Group meeting was convened in Nestle Pakistan head office where Mr. Bruno Olierhoeak - President OICCI and CEO Nestle led the session from Lahore while Mr. Saquib Shirazi CEO Atlas Honda led the Working Group through video link from Karachi. Other participants included Mr. Rizwan Ullah Khan, General Manager – Coca Cola Export Corporation Pakistan & Afghanistan Region; Mr. Irfan Aqueel, CEO - Millat Tractors Limited; Mr. Farid Ahmed Khan, CEO - HBL Assets Management; Dr. Rizwan Basharat Director/Incharge Lahore Region - Intellectual Property Organisation(IPO); Mr. Moeed Aman Rana, Deputy Secretary - (Commerce) Industries, Commerce and Investment Department.
Ms. Maleeha Bangash - MD ICRU and Secretary to the PPD Council stated that the “Private sector engagement in policy formulation and reform is a prerequisite for economic growth and creation of an enabling business environment”. Ms. Maleeha Bangash also informed the participants about her positive interaction with Mr. Mohammad Irfan Tarar, DG- IPO, in Islamabad where he assured her of extending full support in addressing the IPR issues in the Province.
During the session the Group members shared case studies regarding the impediments businesses have to face due to the infringement of IPR. It was also highlighted as a horrendous crime as in the case of counterfeits and spurious consumer products (e.g. food, beverages, Automobile parts, Auto lubricants, cosmetics, and so on) it poses a threat to human life. There were recommendations for inflicting strict punishment upon the infringers to curb this issue. A need to create awareness among the consumers and enforcement bodies about the IPR was also strongly proposed and accepted. Towards the end of the session the Group embarked upon certain concrete recommendations to address the matter. Ms. Maleeha Bangash expressed her appreciation to the members of the Working Group for their involvement and support to the government for bringing business reforms and assured that these recommendations will then be taken to the highest echelons of government to resolve them.
The Private sector welcomed this much needed initiative of the Public Private Dialogue by ICRU and expressed their enthusiasm and commitment to bring about business enabling environment in the Province.
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Communications Consultant ICRU
Call: 0321 4895696